Thrivent Financial for Lutherans Boosts Stake in AMETEK, Inc. (NYSE:AME)

Thrivent Financial for Lutherans lifted its position in shares of AMETEK, Inc. (NYSE:AME) by 13.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 191,929 shares of the technology company’s stock after acquiring an additional 23,144 shares during the quarter. Thrivent Financial for Lutherans owned 0.08% of AMETEK worth $31,997,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Sei Investments Co. boosted its stake in shares of AMETEK by 7.7% during the 2nd quarter. Sei Investments Co. now owns 425,119 shares of the technology company’s stock worth $70,871,000 after acquiring an additional 30,238 shares in the last quarter. Pacer Advisors Inc. lifted its stake in AMETEK by 1.1% in the 2nd quarter. Pacer Advisors Inc. now owns 39,122 shares of the technology company’s stock valued at $6,522,000 after buying an additional 410 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in AMETEK by 5.9% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 50,049 shares of the technology company’s stock valued at $8,344,000 after buying an additional 2,800 shares in the last quarter. AE Wealth Management LLC purchased a new position in AMETEK in the 2nd quarter valued at about $201,000. Finally, King Luther Capital Management Corp lifted its stake in AMETEK by 1.5% in the 2nd quarter. King Luther Capital Management Corp now owns 98,638 shares of the technology company’s stock valued at $16,444,000 after buying an additional 1,496 shares in the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

AMETEK Stock Down 0.0 %

Shares of NYSE AME opened at $171.09 on Tuesday. The company has a 50 day simple moving average of $166.55 and a 200-day simple moving average of $171.19. The company has a market capitalization of $39.60 billion, a P/E ratio of 30.07, a P/E/G ratio of 2.71 and a beta of 1.17. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.57 EPS. On average, equities research analysts predict that AMETEK, Inc. will post 6.77 earnings per share for the current year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.28 per share. The ex-dividend date is Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. AMETEK’s payout ratio is currently 19.68%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AME shares. TD Cowen decreased their price target on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Robert W. Baird cut their price objective on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada cut their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Wolfe Research upgraded shares of AMETEK to a “hold” rating in a report on Wednesday, September 18th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $186.29.

AMETEK Company Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in the North America, Europe, Asia, and South America, and internationally. The company's EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets; power quality monitoring and c devices, uninterruptible power supplies, programmable power and electromagnetic compatibility test equipment, and sensors for gas turbines and dashboard instruments; heavy trucks, instrumentation, and controls for the food and beverage industries; and aircraft and engine sensors, power supplies, embedded computing, monitoring, fuel and fluid measurement, and data acquisition systems for aerospace and defense industry.